Penny Saver
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Question of
Which bank account type pays a higher return
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Chequing Account
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Savings Account
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RRSP account
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Question of
What balance should you pay on your credit card to not accrue interest?
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The minimum statement balance
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The whole balance
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Half of the balance
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Question of
To get the lowest mortgage, you should choose
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Longest amortization period (30 vs 25)
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Higher interest rate
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Lower interest rate
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Question of
When you charge your debit card
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You can pay the balance off the next month
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The amount is removed from your account immediately
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Question of
You pay taxes on your 401K
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When you add money to it
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When you take money out of it
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Every year the money is in it
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Question of
Every how many years does your investment account double?
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Every 3 years
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Every 7 years
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Every 10 years
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Every 15 years
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Question of
A good investment strategy is
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To choose one stock you like
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To put your money in multiple investments
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To keep your money in a savings account
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Question of
Buying a Single Stock is Better than a Mutual Fund
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True
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False
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Question of
Requesting a credit score every month lowers your credit rating
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True
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False
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Question of
If you want to purchase a home, you should not,
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Pay down existing debt
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Open a new credit card
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Question of
Which of the following is not a type of insurance?
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Health insurance
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Homeowners insurance
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Life insurance
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Credit insurance
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Question of
Which of the following is NOT a factor that lenders take into consideration when considering a loan application?
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Your credit score
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Your rental history
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The amount of money you have in savings
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Your current debts
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Question of
What is the name for the legal document that states who will manage your finances if you become incapacitated?
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A Will
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A Trust
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A Power of Attorney
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A Living Will
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